Mizuho Cuts Chesapeake Energy (NASDAQ:CHK) Price Target to $105.00

Chesapeake Energy (NASDAQ:CHK) had its price target trimmed by Mizuho from $111.00 to $105.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

CHK has been the topic of a number of other research reports. Wolfe Research initiated coverage on Chesapeake Energy in a report on Thursday, July 18th. They set an outperform rating and a $110.00 price target on the stock. Truist Financial reduced their price target on Chesapeake Energy from $112.00 to $108.00 and set a buy rating for the company in a research report on Monday, July 22nd. Stephens raised their price target on Chesapeake Energy from $117.00 to $118.00 and gave the company an equal weight rating in a report on Tuesday, July 30th. KeyCorp initiated coverage on shares of Chesapeake Energy in a report on Thursday, June 27th. They issued a sector weight rating for the company. Finally, StockNews.com upgraded shares of Chesapeake Energy to a sell rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $105.92.

Chesapeake Energy Trading Up 2.8 %

Shares of NASDAQ CHK opened at $76.57 on Monday. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 10.32 and a beta of 0.46. The stock’s 50 day simple moving average is $74.85 and its 200 day simple moving average is $82.79. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.19. Chesapeake Energy has a 12-month low of $69.12 and a 12-month high of $93.58.

Chesapeake Energy (NASDAQ:CHK) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). Chesapeake Energy had a net margin of 8.68% and a return on equity of 4.00%. The firm had revenue of $505.00 million for the quarter, compared to analyst estimates of $822.54 million. During the same period last year, the firm posted $0.64 EPS. The business’s revenue was down 73.3% compared to the same quarter last year. Equities research analysts expect that Chesapeake Energy will post 1.32 EPS for the current year.

Chesapeake Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Thursday, August 15th. Chesapeake Energy’s dividend payout ratio (DPR) is presently 31.00%.

Hedge Funds Weigh In On Chesapeake Energy

A number of institutional investors have recently bought and sold shares of the stock. Aurora Investment Counsel lifted its stake in Chesapeake Energy by 1.1% during the first quarter. Aurora Investment Counsel now owns 11,930 shares of the company’s stock valued at $1,060,000 after buying an additional 135 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Chesapeake Energy by 90.8% in the 1st quarter. Lindbrook Capital LLC now owns 374 shares of the company’s stock valued at $33,000 after acquiring an additional 178 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in Chesapeake Energy by 1.3% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 13,895 shares of the company’s stock worth $1,142,000 after purchasing an additional 180 shares during the period. Toronto Dominion Bank grew its position in Chesapeake Energy by 1.9% during the 2nd quarter. Toronto Dominion Bank now owns 10,205 shares of the company’s stock worth $839,000 after purchasing an additional 186 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in Chesapeake Energy by 32.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 900 shares of the company’s stock valued at $80,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Chesapeake Energy Company Profile

Chesapeake Energy Corporation operates as an independent exploration and production company in the United States. It engages in acquisition, exploration, and development of properties to produce oil, natural gas, and natural gas liquids from underground reservoirs. The company holds interests in natural gas resource plays in the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.